Loan Officer I

Description

Loan Officer I

Status: Non-Exempt/Full-Time

Location: Cerritos

Reports to: Loan Manager/Loan Dept.

Level: Non-Management

Job Summary:

The Loan Officer I is responsible for assisting members with their consumer lending needs by evaluating loan applications, reviewing supporting loan documents, providing excellent member service, and making sound credit decisions. This role ensures that loans are processed, underwritten, and decisioned effectively and efficiently while adhering to the Credit Union’s policies, procedures, and regulatory requirements. Responsibilities also include meeting production and quality goals for loan processing and decision accuracy. On-site presence during business hours is required for this role.

Loan Officer Essential Job Functions:

• Interview loan applicants; obtain all of the necessary documentation to make the loan decision; determine collateral needs and payment plans for members applying for loans.
• Review and evaluate loan applications to determine creditworthiness and compliance with the Credit Union’s policies and procedures.
• Process loan applications accurately, ensuring all required documentation is collected, reviewed, and properly maintained.
• Provide personalized assistance to members by explaining loan terms, options, and repayment plans, ensuring a clear understanding of Credit Union products and services.
• Make loan decisions according to Credit Union policy and procedures and in compliance with federal and state laws.
• Establish the terms and conditions of an approved loan and review them with members.
• Project a professional and positive image of the Credit Union always.
• Analyze supporting loan documentation, including paystubs, credit reports, tax returns, etc. to make informed lending decisions.
• Provide clear and compliant communication regarding loan denials, ensuring members understand the reason for denials and any applicable next steps or alternatives.
• Address member inquiries or concerns promptly and professionally, ensuring a positive experience.
• Provide information to the members concerning the different types of loans. offered, the terms and interest rates, and the documentation needed to be considered for a loan.
• Complete loan applications over the phone and/or electronically.
• Monitor loan queue to ensure timely decision-making and processing, meeting service level agreements and member expectations.
• Meet production and quality goals related to loan processing and decision-making accuracy.
• Provide financial education to members in the importance of building and maintaining good credit.
• Refer borrower requests for loan extensions, refinances, or any changes to original loan terms as designated in policy and procedure.
• Implement new loan products and services in accordance with management instructions.
• Identify opportunities to cross-sell additional products and services to meet members’ financial needs.
• Achieve lending goals and maintain a high standard of service.
• Log in to the call center queue to answer member calls related to loan application inquiries, providing accurate and timely assistance.
• Assist branch operations staff as needed.
• Assist with following up with missing DMV titles
• Responsible for the quality and accuracy of all work performed.
• Stay updated on of Credit Union products, services, policies and procedures.
• Comply with all applicable laws, regulations, and Credit Union policies and procedures, and ensure compliance with all governing regulations, including but not limited to: Bank Secrecy Act (BSA), Anti-Money Laundering (AML), Office of Foreign Assets Control (OFAC), Customer Identification Program (CIP), Truth-In Savings and Fair Credit Lending Practices.
• All other duties as assigned or requested by Loan Manager.
• This job description is not designed to cover or contain a comprehensive listing of activities, duties or responsibilities that are required of the employee. Duties, responsibilities, and activities may change, or new ones may be assigned at any time with or without notice.

Requirements

Loan Officer Qualifications:

To perform this job successfully, an individual must be able to perform each essential job function satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Knowledge, Skills and Abilities:

• High school degree or equivalent.
• At least six months of experience in consumer lending or a similar financial services role.
• Strong knowledge of lending practices, regulations, and credit analysis.
• Excellent communication, interpersonal, and decision-making skills.
• Ability to manage multiple tasks efficiently and meet deadlines.
• Ability to read, analyze, and interpret business correspondence, and procedure manuals.
• Ability to effectively present information and respond to questions from groups of management, members, vendors, and the general public.
• Demonstrate the ability to provide meticulous attention to detail, and concern for accuracy and consistency in results.
• Effective listening, communication (verbal and written), organization, and decision-making skills.
• Ability to work independently or within a team to accomplish goals and objectives.
• Must be bondable. May be required to qualify as a notary public.
• Must comply with all Bank Secrecy Act (BSA) and other Anti-Money Laundering (AML) Laws and Regulations, as they pertain to federal guidelines and internal policies and procedures.
• Must complete compliance training to ensure adherence to legal and regulatory requirements, including security awareness and BSA training.

Physical Demands and Work Environment:

The physical demands described here are representative of those an employee may encounter while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. While performing the duties of this job, the employee is regularly required to bend, sit, and stand in order to perform primarily sedentary work with limited physical exertion and occasional lifting of up to 30 lbs. Must be capable of climbing/descending stairs in an emergency situation. Must be able to operate routine office equipment including computer terminals, keyboards, telephones, copiers, facsimiles, and calculators. Must be able to routinely perform work on a computer for an average of 6-8 hours per day. Must be able to work extended hours or travel off site whenever required or requested by management. Must be capable of regular, reliable, and timely attendance. The employee is frequently required to talk or hear, walk, reach with hands and arms; and stoop, or kneel. Specific vision abilities required by this job include close vision, color vision, peripheral vision, depth perception, and ability to adjust focus.

Working Conditions:

Must be able to routinely perform work indoors in climate-controlled shared work area with moderate noise.

Mental and/or Emotional Requirements:

The employee must be able to perform job functions with supervision and work effectively either on their own or as part of a team. Must be able to read and conduct various instructions and follow oral instructions. Must be able to speak clearly and deliver information in a logical and understandable sequence. Must be able to perform mathematical calculations with extreme accuracy. Must be capable of dealing calmly and professionally with numerous different personalities from diverse cultures at various levels within and outside of the organization and demonstrate highest levels of member service and discretion when dealing with the public. Must be able to perform responsibilities with composure under the stress of deadlines/requirements for extreme accuracy and quality and/or fast pace. Must be able to effectively manage multiple, simultaneous, and changing priorities. Must be capable of exercising the highest level of discretion on confidential matters.